China-founded online retailer Shein disclosed a Federal Trade Commission (FTC) investigation that could soon require significant payments as its U.S. sales fell 14.3 percent and it moved toward a Hong Kong stock listing after earlier efforts in New York and London stalled.
The investigation was among a series of legal and regulatory pressures detailed in Shein’s draft Hong Kong listing document, offering a rare look inside the privately held retailer whose low-priced clothing and other goods reach millions of American consumers.
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